# Teamsters Industrial Employees Pension Fund

Teamsters Industrial Employees Pension Fund is a Pension Fund based in Elmwood Park, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Elmwood Park, United States
- **Region:** North America
- **Address:** Union City, NJ, United States
- **Founded:** 1967
- **Assets under management:** Undisclosed
- **Website:** 560benefitfunds.com
- **LinkedIn:** linkedin.com/company/local-560-building-corp

## Regulatory record

- **Reports private funds:** No

## About

The Teamsters Industrial Employees Pension Fund operates as the primary retirement vehicle for members of Teamsters Local 560, the storied North Jersey local that represents workers in warehouse, industrial, and transportation sectors. The fund is administered through Union City, with contributions historically flowing from participating employers including Suburban Propane Partners, L.P. — a publicly traded propane distributor whose drivers and terminal workers fall under the Teamsters' bargaining umbrella. The plan's structure reflects the multi-employer pension model common across the building trades and Teamsters-affiliated plans, where multiple unrelated companies contribute into a single pooled fund governed by a joint board of union and employer trustees. The fund's asset allocation is notable for its heavy concentration: investment records show the vast majority of capital directed to private equity buyout strategies, held through partnership and joint venture interests as well as common and collective trusts. This is an unusually aggressive posture for a multi-employer pension plan, where regulatory guidance typically steers trustees toward liquid, diversified portfolios. Exact fund commitments and direct co-investment names have not been reported publicly in recent years, though the plan's filings with the Department of Labor indicate the buyout focus has been sustained across multiple reporting cycles. The fund has faced the same structural headwinds afflicting many multi-employer Teamsters plans — declining active-to-retiree ratios, employer withdrawals, and investment return pressure. These stresses led the plan to apply for Special Financial Assistance (SFA) under the American Rescue Plan Act of 2021, administered through the Pension Benefit Guaranty Corporation (PBGC). Robert Blumenfeld, the Fund Administrator, manages the plan's day-to-day operations and PBGC interface. The exact amount of SFA relief approved — if finalized — has not been disclosed in public PBGC records as of early 2026. The plan's hybrid governance is its defining structural feature: a multi-employer trust jointly governed by union and employer representatives, with investment authority delegated to an administrator who executes a heavily concentrated private equity mandate. This governance model separates the Teamsters Industrial Employees Pension Fund from single-employer corporate plans where investment committees draw from internal treasury staff. The PBGC's SFA program adds a further layer — federal oversight conditions attach to the grant, potentially restricting future investment freedom in exchange for solvency backstop. How the fund balances its buyout appetite against PBGC's conservatorship constraints will shape its next decade.

## Sectors

- Buyout
- Private Equity

## People

- Robert Blumenfeld — Fund Administrator

## Questions

### Who runs investment decisions at the Teamsters Industrial Employees Pension Fund?

Robert Blumenfeld serves as the Fund Administrator and is the named fiduciary responsible for day-to-day operations. The fund is governed by a joint board of trustees representing both Teamsters Local 560 and contributing employers. Investment strategy and manager selection are executed by the administrator in coordination with the trustee board, though the specific delegation of discretionary authority to external consultants or outsourced CIO arrangements has not been publicly disclosed.

### What is the PBGC Special Financial Assistance program, and why did this fund apply?

The Special Financial Assistance program was created under the American Rescue Plan Act of 2021 to provide grants to severely underfunded multi-employer pension plans, allowing them to pay full benefits through at least 2051 without cutting accrued benefits. The Teamsters Industrial Employees Pension Fund applied for SFA after projected contributions and investment returns proved insufficient to meet long-term obligations. If approved, the PBGC provides a lump-sum grant that the fund must invest under federally prescribed guidelines, with ongoing PBGC oversight of asset allocation and benefit payments.

## Related profiles

- [Teamsters Employers Local 945 Pension Fund](https://altss.com/profile/teamsters-employers-local-945-pension-fund)
- [Teamsters Joint Council No. 83 of Virginia (TJC83)](https://altss.com/profile/teamsters-joint-council-no-83-of-virginia-tjc83)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/teamsters-industrial-employees-pension-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology